Powell's hawkish rhetoric drove the 2-year US Treasury yield up by about 10 basis points on Monday, narrowing the cumulative decline in September to nearly 26 basis points

At the New York closing on Monday (September 30th), the yield on the 10-year US Treasury benchmark bond rose by 5.13 basis points to 3.8019%. In September, it fell by a total of 10.54 basis points, hitting a low of 3.5952% on September 17th at 20:30 Beijing time, before gradually recovering lost ground. The yield on the 2-year US Treasury bond rose by 9.63 basis points to 3.6554%. Federal Reserve Chairman Powell stated that "if the economy meets expectations, the Summary of Economic Projections (SEP) will suggest that the FOMC will take action twice in the future, with a total rate cut of 50 basis points." Subsequently, the yield rose to 3.6677% after falling by 26.31 basis points in September, trading mostly in the range of 3.7% to 3.5% during the period, and hitting a low within the period on September 25th